Dividend comparison

SCHD vs FDVV: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Schwab U.S. Dividend Equity ETF and Fidelity High Dividend ETF, side by side. Updated October 21, 2026.

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SCHD vs FDVV: key differences
The short answer, from the latest data on this page.
  • Fees. SCHD is cheaper at 0.06% a year versus 0.15% for FDVV. On $10,000 that is $9 a year less in fees.
  • Income. SCHD pays more income, yielding 3.04% over the last twelve months versus 2.77% for FDVV. That is about $27 more a year on $10,000. SCHD pays quarterly, FDVV pays monthly.
  • Performance. Over the last 5 years, FDVV returned 80.6% versus 57.9% for SCHD, with dividends reinvested. $10,000 would have grown to $18,061 in FDVV and $15,790 in SCHD.
  • Risk. FDVV has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -20.2%, against -16.8% for SCHD.
  • Diversification. FDVV holds 119 positions and SCHD holds 102. The ten largest positions make up 41.7% of SCHD and 36.5% of FDVV.
  • Overlap. 16% of the two portfolios overlap by weight, across 22 shared holdings. They mostly own different companies, so they can complement each other.
  • Dividend growth. FDVV grew its yearly payout 10.7% a year over the last 4 years, versus 8.7% for SCHD.
  • Size. SCHD is the larger fund with $114.7 billion in assets, against $10.2 billion for FDVV.

Bottom line: SCHD fits better if you care most about lower fees, more income today and smaller drawdowns. FDVV fits better if you care most about stronger 5-year returns and faster dividend growth.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricSCHD
Schwab U.S. Dividend Equity ETF
FDVV
Fidelity High Dividend ETF
Dividend yield (TTM)3.04%2.77%
Dividend / share (TTM)$1.05$1.71
Payout frequencyQuarterlyMonthly
Last dividend$0.2665 on Sep 28, 2026$0.3620 on Sep 22, 2026
Ex-dividend dateSep 23, 2026Sep 18, 2026
Dividend growth (CAGR)8.7% over 4 yrs10.7% over 4 yrs
Price$34.69$61.84
Dividend growth streak13 years1 year
Beta0.580.78
Max drawdown (5Y)-16.8%-20.2%
Market cap$98.31B$10.17B
ExchangeAMEXAMEX
Expense ratio0.06%0.15%
Assets under management$114.71B$10.17B
Number of holdings102119
Top 10 concentration41.7%36.5%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

SCHD

$25.32/mo

$304 /yr at 3.04% yield

FDVV

$23.10/mo

$277 /yr at 2.77% yield

Dividend history
Total dividends paid per share in each calendar year. SCHD pays quarterly; FDVV pays monthly.
YearSCHDFDVV
2025$1.0476$1.6360
2024$0.9944$1.4700
2023$0.8862$1.5920
2022$0.8540$1.2830
2021$0.7499$1.0880
Strategy: Dividend equity
Rules-based equity funds that screen for companies paying sustainable or rising dividends, aiming at income plus long-term share-price participation. The screen is what defines the fund: yield-ranked indexes deliver more cash now, dividend-growth indexes deliberately exclude the highest payers in favor of durability. Both approaches produce a sector mix that looks nothing like the broad market, typically heavier in financials, healthcare, staples and industrials.

Expect stretches of underperformance versus the broad market whenever leadership comes from the high-growth, low-yield companies these screens exclude.

What SCHD vs FDVV actually do

SCHD
An index ETF holding about 100 US dividend payers screened for balance-sheet strength and a long payment record.

It tracks the Dow Jones U.S. Dividend 100 Index, which first requires at least ten consecutive years of dividends, then ranks the survivors on a composite of cash flow to total debt, return on equity, dividend yield and five-year dividend growth. The top 100 are held at market-cap weights with a 4% cap per stock and 25% per sector, reconstituted annually and rebalanced quarterly. Those quality screens push the portfolio toward mature value sectors and largely out of high-growth technology, which is the single biggest reason its return diverges from the S&P 500 in either direction.

Suits an investor who wants a growing dividend stream plus share-price participation and can sit out technology-led rallies without changing course. Not a match for someone who needs the highest available current yield or wants full market exposure.

Core dividend holding

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $15,790 in SCHD and $18,061 in FDVV.
PeriodSCHDFDVV
1 month3.83%-0.32%
3 months6.77%-0.51%
Year to date29.59%9.08%
1 year33.01%10.45%
3 years66.22%73.46%
5 years57.90%80.61%
  • SCHD
  • FDVV
81138195202120222023202420252026158181

Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • SCHD
  • FDVV
0%8%17%25%34%Technology16.0%31.7%Information Technology31.2%Consumer Defensive20.1%10.9%Financial Services9.2%18.4%Healthcare19.3%3.5%Financials19.4%Consumer Cyclical6.7%11.8%Energy15.3%Consumer Discretionary11.7%Industrials7.3%3.6%Other6.1%33.9%
SCHD vs FDVV holdings overlap
16% overlap by weight, with 22 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Largest shared holdingsSCHD weightFDVV weight
KOCOCA-COLA4.30%2.16%
PGPROCTER & GAMBLE4.34%1.91%
MOALTRIA GROUP INC3.05%1.72%
HDHOME DEPOT3.95%1.53%
PEPPEPSICO3.86%1.32%
TXNTEXAS INSTRUMENT4.40%1.27%
FFORD MOTOR1.17%1.26%
BXBLACKSTONE1.98%1.10%
UNHUNITEDHEALTH GROUP4.14%0.49%
BBYBEST BUY0.44%1.82%
Top 10 holdings
Largest positions by portfolio weight.

SCHD102 holdings total

NameWeight
TXNTEXAS INSTRUMENT4.40%
PGPROCTER & GAMBLE4.34%
CVXCHEVRON4.31%
KOCOCA-COLA4.30%
COPCONOCOPHILLIPS4.30%
QCOMQUALCOMM4.15%
UNHUNITEDHEALTH GROUP4.14%
HDHOME DEPOT3.95%
AMGNAMGEN INC3.90%
PEPPEPSICO3.86%

FDVV119 holdings total

NameWeight
NVDANVIDIA CORP7.21%
AAPLAPPLE INC7.06%
MSFTMICROSOFT CORP5.72%
DELLDELL TECHNOLOGIES INC CL C3.05%
JPMJPMORGAN CHASE & CO2.74%
AVGOBROADCOM INC2.70%
KOCOCA COLA CO2.16%
PMPHILIP MORRIS INTL INC1.99%
GOOGLALPHABET INC CL A1.92%
PGPROCTER & GAMBLE CO1.91%

Quick verdict

SCHD fits better if you care most about lower fees, more income today and smaller drawdowns. FDVV fits better if you care most about stronger 5-year returns and faster dividend growth. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is SCHD or FDVV better for dividend income?
It depends on your goals. SCHD currently yields 3.04% Trailing Twelve Months (TTM) while FDVV yields 2.77%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between SCHD and FDVV?
Schwab U.S. Dividend Equity ETF (SCHD) is an ETF listed on AMEX. Fidelity High Dividend ETF (FDVV) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, SCHD or FDVV?
SCHD has the lower expense ratio. SCHD charges 0.06% a year and FDVV charges 0.15%, a difference of $9 a year on a $10,000 investment.
Which has performed better, SCHD or FDVV?
Over the last 5 years, FDVV has the higher total return with dividends reinvested: SCHD returned 57.9% and FDVV returned 80.6%. Past performance does not predict future returns.
Which is riskier, SCHD or FDVV?
Measured by the worst peak-to-trough decline over the last five years, FDVV has been riskier: SCHD fell as much as 16.8% and FDVV as much as 20.2%. Their betas are 0.58 and 0.78.
How much do SCHD and FDVV overlap?
About 16% of the two portfolios overlap by weight, across 22 shared holdings. The largest shared positions are KO, PG, MO. Holding both still adds meaningful diversification.
How often do SCHD and FDVV pay dividends?
SCHD pays quarterly and FDVV pays monthly.
How much income does $10,000 in SCHD vs FDVV generate?
At current TTM yields, $10,000 in SCHD would generate roughly $25.32 per month ($304 annually). The same amount in FDVV would produce about $23.10 per month ($277 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SCHD and FDVV?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare SCHD vs FDVV with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SCHD and FDVV fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.